This case presents the history and current position of the second largest Russian oil company, Yukos, as it seeks a listing on the NYSE ADR, as well as attempts to rid itself of punishment "management discount" in the capital markets. This is a company with a history of significant corporate governance abuses, which, in recent years, trying to reform their ways. Although the company's market value has increased dramatically over the past year (2000), it is still selling at huge discounts from the imputed market value of its enormous reserves of oil and gas. What more do Yukos, to eliminate its control discount? Like any program will be successfully implemented given the current ownership structure of the company? "Hide
by Malcolm S. Salter, Joshua N. Rosenbaum Source: HBS 27 pages. Publication Date: October 29, 2001. Prod. # 902 021-PDF-ENG
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